Dominion Resources, Inc. (NYSE:DCUB) Q3 2019 Earnings Conference Call - Final Transcript
Nov 01, 2019 • 10:00 am ET
Good morning and welcome to the Dominion Energy Third Quarter Earnings Conference Call. At this time, each of your lines is in a listen-only mode. At the conclusion of today's presentation, we will open the floor for questions. [Operator Instructions].
I would now like to turn the call over to Steven Ridge, Vice President, Investor Relations.
Good morning and welcome. I encourage you to visit our Investor Relations website to view the earnings release kit, the presentation that accompanies this morning's prepared remarks and additional quarterly disclosures. The Investor Relations team will be available after today's call to answer any questions regarding this quarter's results.
Earnings materials, including our prepared remarks today, may contain forward-looking statements and estimates that are subject to various risks and uncertainties. Please refer to our SEC filings, including our most recent annual reports on Form 10-K and our quarterly reports on Form 10-Q, for a discussion of factors that may cause results to differ from management's projections, forecasts, estimates and expectations. This morning, we will discuss some measures of our company's performance that differ from those recognized by GAAP. Reconciliation of our non-GAAP measures and the most directly comparable GAAP financial measures which we are able to calculate are contained in the earnings release kit.
Joining today's call are Tom Farrell, Chairman, President and Chief Executive Officer; Jim Chapman, Executive Vice President, Chief Financial Officer and Treasurer; as well as other members of the executive management team.
I will now turn the call over to Jim.
James R. Chapman
Thanks Steve and good morning. Before I walk through the quarterly results, which were above the midpoint of our guidance range, I wanted to highlight Dominion Energy's key investment themes, all of which are consistent with the messaging from our Investor Day in March. At the highest level, we delivered exceptional value to our customers, our communities, our employees and our shareholders. We do this by providing affordable, reliable and sustainable energy to our customers. Approximately two-thirds of our operating income comes from our state-regulated utility operations, whose customers center around five key states.
Our demand pull utility-centered FERC transmission storage customers account for most of the rest of our operating income. Together, these regulated and regulated-like customers comprise approximately 95% of our total operating income. From 2019 through 2023, we plan to invest $26 billion in growth capital programs that will modernize, strengthen and improve the sustainability of our systems to the benefit of these customers.
Further, we do this by engaging with communities in which we live and work, by being responsible stewards of the environment and by focusing relentlessly on the safety of our nearly 20,000 employees. Tom will touch on these three topics more extensively in his remarks.
Finally, we do this by delivering financial results that are consistently within our guidance for earnings and dividend growth. As an example, this quarter's results represent the 15th consecutive quarter of delivering weather-normalized operating earnings per share that are at or above the midpoint of our quarterly guidance